Antoine Arnault, 36, will become chairman of Loro Piana’s
board, while Sergio Loro Piana and Pier Luigi Loro Piana will be
vice presidents of the maker of $6,595 beaver-trimmed cashmere
coats, Paris-based LVMH said today in a statement.

“It is an honor to take the reins of Loro Piana alongside
Sergio and Pier Luigi,” Antoine Arnault said in the statement.
“We will work hand-in-hand to develop the huge potential of
this maison.”

The executive was expected to take up a managerial position
at Loro Piana after playing a pivotal role in LVMH’s 2 billion-euro ($2.73 billion) acquisition of the company in July,
according to a person familiar with the situation. The purchase
of 80 percent of Loro Piana has received final regulatory
authorization, LVMH also said today.

LVMH Chief Executive Officer Bernard Arnault, 64, is
broadening his children’s responsibilities to test them as
possible successors, analysts including John Guy at Berenberg
Bank have said. Antoine is also chairman of shoemaker Berluti,
which he is seeking to transform into a menswear rival to
Ermenegildo Zegna SpA and Brioni, owned by Kering SA. (KER) His
sister, Delphine Arnault, 38, in September joined Louis Vuitton
as executive vice president, tasked with reviving LVMH’s biggest
brand.